I recently purchased my first investment property with the view to renovating it and up selling it for a profit. Initially I concentrated all my research efforts on determining what a fair price was for the properties in my area. I managed to get my hands on a bargain without the need to go to auction. My next project is to learn how to estimate construction costs. I have discovered several online resources to assist me in my efforts. I plan to do some of the work myself and outsource the rest of the work to contractors. I will need to have my finger on the pulse to avoid overpaying for materials and labor.